Overview
What is Consolidated Electric Foundation?
Consolidated Electric Foundation is a nonprofit organization situated in Mount Gilead, Ohio. It operates under the scheme of "Operation Round-Up," encouraging utility bill consumers to voluntarily round up their bills to the nearest dollar. These additional funds, collectively known as the "Fund," are then disbursed to various 501(C)(3) organizations, governmental units, or individuals, as long as the aid aligns with the spirit and purpose of the Fund. The distribution of these funds is overseen by the Board of Directors, who assess the worthiness of each recipient. In essence, Consolidated Electric Foundation serves as a philanthropic platform that channels small, voluntary contributions from utility bill payers to support worthy causes.
Is Consolidated Electric Foundation legitimate?
Consolidated Electric Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Consolidated Electric Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Consolidated Electric Foundation?
The Consolidated Electric Foundation's mission is centered around the operation known as "Operation Round-Up." This voluntary initiative involves consumers rounding up their utility bills, with the excess amount being dispersed to various 501(c)(3) organizations, governmental units, or individuals in need, provided they align with the spirit and purpose of the fund. The allocation of these contributions is reviewed by the foundation's board of directors to ensure their worthiness. The Consolidated Electric Foundation's mission is thus aimed at providing assistance to those in need, leveraging the voluntary contributions of its utility customers.
What is the revenue of Consolidated Electric Foundation?
Consolidated Electric Foundation's revenue in 2023 was $94,718.
Who are the executives of Consolidated Electric Foundation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Consolidated Electric Foundation?
Consolidated Electric Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Consolidated Electric Foundation
Consolidated Electric Foundation, a nonprofit organization, carries out its mission through a program known as Operation Round-Up. This initiative encourages consumers to voluntarily round up their utility bills to the nearest whole dollar. The collected funds, following approval by the Foundation's board, are then disbursed to various 501(c)(3) organizations, governmental units, or individuals in need. The Foundation meticulously reviews these allocations to ensure they align with the spirit and purpose of the fund, thereby providing aid where it is most needed. The Consolidated Electric Foundation's mission, through Operation Round-Up, is to offer assistance to those in need, fostering a sense of community and compassion.
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Impact
October, 2024
Consolidated Electric Foundation significantly impacts the community through its "Operation Round-Up" initiative, which allows consumers to voluntarily round up their utility bills. This small gesture culminates in substantial contributions that are disbursed to support various 501(c)(3) organizations, governmental units, and individuals in need.
The funds are allocated after careful review by the Board of Directors, ensuring that each grant aligns with the foundation's mission to aid those in a spirit of support and assistance. By fostering a culture of philanthropy, the foundation encourages community involvement, enabling residents to contribute to meaningful causes. This initiative not only helps address immediate needs but also strengthens the fabric of the community by empowering local organizations and individuals who strive to enhance the well-being of those around them.
This information is meant to be a general summary of Consolidated Electric Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Gross Receipts: $94,718
Assets and Liabilities:
- Total Assets: $90,462
- Total Liabilities: $1,459
- Net Assets: $89,003
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Organization Details
Founding Year
2002
Principal Officer
Mike Ziegelhofer
NTEE Category
Code: T30 - Philanthropy
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